Richest 1% own more than rest of the world

Oxfam report: Wealth of richest 62 people same as poorest half of world’s population

According to Oxfam, the world’s richest 62 people now own the same as the poorest half of world’s population. The aid group also found that the majority of low-paid workers around the world are women.

The report, titled “An Economy for the 1 percent,” was released on Monday, on the eve of the World Economic Forum (WEF) in Davos, Switzerland, where more than 40 heads of state and government are expected to attend.

Oxfam found that since 2010, the wealth of the richest 62 people – according to the Forbes’ billionaires list – has risen by 44 percent, while the wealth of the poorest 3.5 billion people fell by 41 percent.

The average annual income of the poorest 10 percent has risen by less than $3 (2.75 euros) a year in the past 25 years. Read More: https://www.oxfam.org

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